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Affordable Housing Analysis in Zip Code 60126: A Singular LIHTC Project in Elmhurst, Illinois
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60126, located in Elmhurst, Illinois, has a population of 47,635 as of 2022. This area has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 104 low-income units. Based on the estimated housing inventory of 18,251 units, the LIHTC-funded affordable housing covers approximately 0.57% of the zip code's housing stock.
The LIHTC project in this zip code received $715,829 in tax credits, averaging $6,883 per unit in federal funding. This represents 0.09% of the total LIHTC funding allocated to Illinois.
The sole LIHTC project in this zip code, Myerstown Senior Apts (Liberty Village), was completed in 1999. This indicates that affordable housing has been present in the area for over two decades. The project consists of 104 units, including 4 efficiencies, 86 one-bedroom units, and 14 two-bedroom units, catering primarily to smaller households.
Over the past decade, the zip code has experienced modest population growth, increasing from 46,255 in 2013 to 47,635 in 2022. During this period, the median income rose from $106,624 in 2013 to $126,901 in 2022, indicating an overall increase in affluence.
The racial composition of the zip code has remained relatively stable, with a decrease in the white population from 85% in 2013 to 77% in 2022. There have been small increases in Asian, Hispanic, and multiracial populations during this time.
The lack of new LIHTC projects in the last decade may be attributed to the area's rising median income and relatively stable demographics, potentially reducing the perceived need for additional low-income housing.
Zip code 60126 has a single LIHTC-funded affordable housing project that has been serving the community for over two decades. While the project provides 104 low-income units, it represents a small fraction of the estimated housing inventory. The area has experienced steady population growth and a significant increase in median income over the past decade, which may have influenced the lack of additional LIHTC developments in recent years.
